Lowe’s Companies (NYSE:LOW) Stock Rating Reaffirmed by Royal Bank of Canada

Lowe’s Companies (NYSE:LOW)‘s stock had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $246.00 price objective on the home improvement retailer’s stock. Royal Bank of Canada’s price target points to a potential upside of 13.17% from the company’s current price.

Other research analysts have also issued reports about the stock. Mizuho assumed coverage on shares of Lowe’s Companies in a research report on Tuesday, March 19th. They set a “buy” rating and a $280.00 price target on the stock. Morgan Stanley upped their target price on Lowe’s Companies from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. Citigroup dropped their price target on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Oppenheimer restated a “market perform” rating and issued a $230.00 price objective on shares of Lowe’s Companies in a research note on Monday, March 4th. Finally, Zelman & Associates reiterated a “neutral” rating and set a $265.00 target price on shares of Lowe’s Companies in a research note on Tuesday, April 2nd. Fourteen research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $251.33.

Lowe’s Companies Stock Performance

Shares of NYSE LOW opened at $217.38 on Wednesday. The stock has a market cap of $124.38 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 1.74 and a beta of 1.15. Lowe’s Companies has a fifty-two week low of $181.85 and a fifty-two week high of $262.49. The firm’s 50-day simple moving average is $237.03 and its 200 day simple moving average is $224.66.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.94 by $0.12. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The company had revenue of $21.36 billion for the quarter, compared to analyst estimates of $21.14 billion. During the same quarter last year, the company earned $3.67 earnings per share. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, sell-side analysts predict that Lowe’s Companies will post 12.21 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Lowe’s Companies by 5.2% in the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after purchasing an additional 2,674,372 shares in the last quarter. Morgan Stanley raised its position in shares of Lowe’s Companies by 1.1% during the 3rd quarter. Morgan Stanley now owns 10,930,693 shares of the home improvement retailer’s stock valued at $2,271,836,000 after buying an additional 116,855 shares in the last quarter. Norges Bank bought a new stake in shares of Lowe’s Companies during the 4th quarter worth $1,638,746,000. Northern Trust Corp grew its position in Lowe’s Companies by 1.1% in the third quarter. Northern Trust Corp now owns 7,138,824 shares of the home improvement retailer’s stock worth $1,483,733,000 after acquiring an additional 78,901 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Lowe’s Companies by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,211,131 shares of the home improvement retailer’s stock valued at $714,637,000 after acquiring an additional 41,451 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

About Lowe’s Companies

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.